Jonathan Pingle discusses the return of US tariffs under Section 301, viewing them as a more stable foundation for businesses compared to temporary measures. He analyzes AI's disinflationary potential, Kevin Warsh's Fed policy views, and the labor market impact of AI displacement.

Richard Windsor analyzes the capacity of markets to absorb large AI IPOs (SpaceX, Anthropic, OpenAI), emphasizing fundamentals over retail demand. He highlights edge AI as a key trend, with revenue per gigawatt as a critical metric for AI profitability, and identifies winners (Qualcomm, MediaTek) and losers (Intel) from Computex.

Natalia Lipchina discusses the resilience of US tech earnings super cycle, the impact of tariffs on European equities, and the additive nature of the IPO wave. She advises diversification across sectors and regions to hedge AI exposure, and sees enough market capacity to absorb large IPOs.

Brian Gu discusses XPeng's global expansion, with overseas sales growing from 10% to 20% of deliveries, Europe being the largest overseas market. He addresses tariff challenges, partnerships with European manufacturers, and the commercial timeline for flying cars and humanoid robots, emphasizing AI's role in accelerating physical AI products.